This report investigates the story that $20 billion of the Nigerian National Petroleum Corporation (NNPC)’s oil sale revenues went missing in 2014. The paper offers the first in-depth, independent analysis of how the NNPC, Nigeria's national oil company, sells its oil. The main body of the report describes how oil sale practices have worsened since 2010, largely through the expansion (and abuse) of makeshift measures introduced to work around NNPC's fundamental problems. The authors explain why the Buhari government should pursue two tracks of reform.

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Natural Resource Governance Institute